Net income grew by 32% in the fourth quarter to $434,504,000 from $329,837,000 on a 23% increase in revenues to $2,129,113,000 against $1,729,550,000, including a +22% comp consisting of +32% in stores and +16% from DTC e-commerce. DTC represented 49% of sales, down from 52% in the final quarter of 2020. A strong start to the quarter was tripped up somewhat by the Omicron outbreak, which caused capacity constraints and reduced operating hours in some stores, along with widespread staffing shortages. Traffic began bouncing back halfway through Jan., and has continued to improve into Q1.

On a two-year CAGR basis, North ... Log in to view full article.